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(IT-NEWSWIRE.COM, November 04, 2018 ) According to the new market research report “Glycomics/Glycobiology Market by Product (Enzymes (Glycosyltransferase, Glycosidase), Instruments (HPLS, Mass Spectrometry, MALDITOF), Kits & Reagents (Glycoproteins)), Application (Diagnostic, Drug Discovery, Oncology), End User - Global Forecast to 2021", published by MarketsandMarkets™, provides a detailed overview of the major drivers, restraints, challenges, opportunities, current market trends, and strategies impacting the Glycomics/Glycobiology market along with estimates and forecasts of the revenue and share analysis.

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The global glycomics/glycobiology market is expected to reach USD 1,211.4 Million by 2021 from USD 649.5 Million in 2016, at a CAGR of 13.3% during the forecast period. Factors such as increasing government and private funding for glycomics and proteomics research and growing R&D expenditure by pharmaceutical and biotechnology companies are the key drivers for the growth of this market.

The global glycomics/glycobiology market is broadly segmented into product, application, end user, and region. On the basis of product, the market is segmented into enzymes, instruments, kits, and reagents. In 2016, the enzymes segment is expected to account for the largest share of the global glycomics/glycobiology market. The enzymes segment is further categorized into glycosidases, glycosyltransferases, neuraminidases, sialyltransferases, and other enzymes. In 2016, the glycosidases segment is expected to account for the largest share of the market owing to its consumable nature, vast applications of glycosidase enzymes in R&D, and drug development processes.

On the basis of application, the market is segmented into diagnostics, drug discovery and development, immunology, oncology, and other applications. In 2016, the drug discovery and development segment is expected to command the largest share and grow at the highest CAGR during the forecast period. The large share and high growth in this segment can be attributed to the increase in R&D activities for the development of novel drugs and therapies.

On the basis of end user, the market is segmented into academic research institutes, pharmaceutical & biotechnology companies, and contract research organizations. In 2016, the academic research institutes segment is expected to account for the largest share of the market. This growth can be attributed to the rising availability of funding for life science research.

On the basis of region, the market was dominated by North America, followed by Europe, Asia, and the Rest of the World (RoW). In 2015, North America accounted for the largest share of the market, while Asia witnessed the highest growth rate mainly due to increasing commercialization of pharmaceutical and biotechnology research, increasing awareness about personalized medicine, and rising importance of companion diagnostics.

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